“Abundance Mentality” shouldn’t just be about government

Recently, the leadership of the Albuquerque Chamber of Commerce wrote an opinion piece advocating for Albuquerque Mayor Tim Keller’s concept of an “abundance mentality.” They specifically point to the Mayor’s vastly overpriced rail trail, a new stadium for the Lobos Football team, and even the North Domingo Baca Aquatic Center which has experienced massive cost overruns (from $17 million to $70 million).

It is noteworthy that these are ALL government projects (two of which are unreasonably expensive). Sadly, the ABQ Chamber has NOT taken a position on the gross receipts tax hike plans that have been discussed and rejected at City Council. How any pro-business organization can take a pass on a massive, unnecessary tax hike is beyond us. Check their website.

Even worse and more telling is the abject lack of an “abundance mentality” at the Chamber (or Mayor, but we expect nothing less from him) around eliminating New Mexico’s personal income tax. New Mexico is sitting on $75 billion in its sovereign wealth fund. That is projected to grow to $100 billion in a few short years. Sadly, neither the Mayor of its largest city nor one of its supposed “pro business” organizations has said a peep in support of “abundance” for the private sector. Heck, neither the Chamber nor the Mayor has even weighed in on MLG’s plan for tax rebates.

So, when it comes to “abundance” in New Mexico, it is reserved only for government. That lack of an “abundance” mentality when it comes to growing the private sector is how you get to dead last even in the midst of a massive oil and gas boom.